Bank Of The West
SAN FRANCISCO, CA 94104-4297LEI: QOT5WN9RBKQTFRVKEV31
Tax ID: 94-0475440
2019 Data | 2018 Data
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Overview
Bank Of The West is a small mortgage company specializing in Home Purchase and Refi loans. Bank Of The West has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Los Angeles, Oakland, San Jose, San Francisco, and Anaheim among others. They have a below average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Bank Of The West is typically a lendor.Originations
15,452Origination Dollar Volume (All Markets)
$4,869,800,000Product Mix
| Loan Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Conventional | 15,140 | $4,800,310,000 | $317,061 |
| FHA | 186 | $36,840,000 | $198,065 |
| VA | 122 | $32,060,000 | $262,787 |
| USDA | 4 | $590,000 | $147,500 |
Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 4,023 | $1,732,795,000 | $430,722 |
| Home Improvement | 2,492 | $324,120,000 | $130,064 |
| Other | 2,884 | $480,670,000 | $166,668 |
| Refi | 4,050 | $1,419,660,000 | $350,533 |
| Cash Out Refi | 2,003 | $912,555,000 | $455,594 |
Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.
Top Markets
| Market | Originations | Total Value | Average Loan |
|---|---|---|---|
| LOS ANGELES-LONG BEACH-GLENDALE, CA | 2,110 | $897,180,000 | $425,204 |
| OAKLAND-BERKELEY-LIVERMORE, CA | 1,393 | $550,985,000 | $395,538 |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA | 887 | $467,165,000 | $526,680 |
| SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA | 585 | $372,805,000 | $637,274 |
| ANAHEIM-SANTA ANA-IRVINE, CA | 720 | $338,460,000 | $470,083 |
| DENVER-AURORA-LAKEWOOD, CO | 1,050 | $270,420,000 | $257,543 |
| Outside of Metro Areas | 1,508 | $256,940,000 | $170,385 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | 458 | $129,130,000 | $281,943 |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA | 393 | $105,805,000 | $269,224 |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA | 350 | $102,790,000 | $293,686 |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA | 222 | $86,010,000 | $387,432 |
| SANTA ROSA-PETALUMA, CA | 240 | $83,420,000 | $347,583 |
| STOCKTON, CA | 360 | $76,190,000 | $211,639 |
| MODESTO, CA | 347 | $69,585,000 | $200,533 |
| LAS VEGAS-HENDERSON-PARADISE, NV | 272 | $67,500,000 | $248,162 |
| PHOENIX-MESA-CHANDLER, AZ | 259 | $62,465,000 | $241,178 |
| SANTA MARIA-SANTA BARBARA, CA | 94 | $51,050,000 | $543,085 |
| SANTA CRUZ-WATSONVILLE, CA | 136 | $50,000,000 | $367,647 |
| OMAHA-COUNCIL BLUFFS, NE-IA | 417 | $48,185,000 | $115,552 |
| SEATTLE-BELLEVUE-KENT, WA | 92 | $46,990,000 | $510,761 |
| ALBUQUERQUE, NM | 288 | $44,840,000 | $155,694 |
| SAN RAFAEL, CA | 62 | $40,280,000 | $649,677 |
| KANSAS CITY, MO-KS | 259 | $37,575,000 | $145,077 |
| BOULDER, CO | 99 | $36,025,000 | $363,889 |
| OXNARD-THOUSAND OAKS-VENTURA, CA | 120 | $35,330,000 | $294,417 |
| RENO, NV | 91 | $32,325,000 | $355,220 |
| NAPA, CA | 82 | $30,710,000 | $374,512 |
| TUCSON, AZ | 124 | $26,650,000 | $214,919 |
| DES MOINES-WEST DES MOINES, IA | 208 | $26,430,000 | $127,067 |
| VALLEJO, CA | 124 | $24,030,000 | $193,790 |
| FRESNO, CA | 126 | $23,620,000 | $187,460 |
| BOISE CITY, ID | 142 | $22,940,000 | $161,549 |
| GRAND JUNCTION, CO | 69 | $22,925,000 | $332,246 |
| SALINAS, CA | 53 | $20,975,000 | $395,755 |
| BAKERSFIELD, CA | 83 | $17,175,000 | $206,928 |
| SALT LAKE CITY, UT | 60 | $16,460,000 | $274,333 |
| FORT COLLINS, CO | 64 | $16,430,000 | $256,719 |
| WICHITA, KS | 116 | $15,010,000 | $129,397 |
| OKLAHOMA CITY, OK | 68 | $12,100,000 | $177,941 |
| VISALIA, CA | 87 | $11,695,000 | $134,425 |
| GREELEY, CO | 64 | $11,320,000 | $176,875 |
| SAN LUIS OBISPO-PASO ROBLES, CA | 29 | $10,265,000 | $353,966 |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI | 49 | $10,105,000 | $206,224 |
| MERCED, CA | 47 | $9,155,000 | $194,787 |
| BEND, OR | 23 | $8,255,000 | $358,913 |
| CHICAGO-NAPERVILLE-EVANSTON, IL | 21 | $7,995,000 | $380,714 |
| TULSA, OK | 10 | $7,490,000 | $749,000 |
| LINCOLN, NE | 72 | $7,130,000 | $99,028 |
| HANFORD-CORCORAN, CA | 44 | $6,360,000 | $144,545 |
| MILWAUKEE-WAUKESHA, WI | 17 | $6,225,000 | $366,176 |
| CHICO, CA | 43 | $5,975,000 | $138,953 |
| TACOMA-LAKEWOOD, WA | 28 | $5,660,000 | $202,143 |
| CHEYENNE, WY | 34 | $5,410,000 | $159,118 |
| SPOKANE-SPOKANE VALLEY, WA | 5 | $5,355,000 | $1,071,000 |
| COLORADO SPRINGS, CO | 18 | $4,840,000 | $268,889 |
| KENNEWICK-RICHLAND, WA | 24 | $4,760,000 | $198,333 |
| AMES, IA | 40 | $4,710,000 | $117,750 |
| CEDAR RAPIDS, IA | 50 | $4,400,000 | $88,000 |
| OGDEN-CLEARFIELD, UT | 24 | $4,310,000 | $179,583 |
| LAS CRUCES, NM | 40 | $4,120,000 | $103,000 |
| FARGO, ND-MN | 34 | $3,890,000 | $114,412 |
| DALLAS-PLANO-IRVING, TX | 22 | $3,670,000 | $166,818 |
| CARSON CITY, NV | 25 | $3,635,000 | $145,400 |
| PROVO-OREM, UT | 13 | $3,555,000 | $273,462 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | 15 | $3,285,000 | $219,000 |
| YAKIMA, WA | 10 | $3,250,000 | $325,000 |
| FLAGSTAFF, AZ | 17 | $3,095,000 | $182,059 |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA | 7 | $3,035,000 | $433,571 |
| YUBA CITY, CA | 17 | $2,895,000 | $170,294 |
| CLARKSVILLE, TN-KY | 27 | $2,845,000 | $105,370 |
| EL PASO, TX | 21 | $2,335,000 | $111,190 |
| SANTA FE, NM | 9 | $2,315,000 | $257,222 |
| LAKE HAVASU CITY-KINGMAN, AZ | 12 | $2,150,000 | $179,167 |
| ENID, OK | 28 | $2,140,000 | $76,429 |
| CASPER, WY | 13 | $1,885,000 | $145,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | 12 | $1,870,000 | $155,833 |
| SALEM, OR | 13 | $1,825,000 | $140,385 |
| OLYMPIA-LACEY-TUMWATER, WA | 6 | $1,770,000 | $295,000 |
| ANCHORAGE, AK | 14 | $1,650,000 | $117,857 |
| KILLEEN-TEMPLE, TX | 2 | $1,500,000 | $750,000 |
| ST. CLOUD, MN | 12 | $1,480,000 | $123,333 |
| EUGENE-SPRINGFIELD, OR | 7 | $1,455,000 | $207,857 |
| MADERA, CA | 8 | $1,440,000 | $180,000 |
| FORT WORTH-ARLINGTON-GRAPEVINE, TX | 10 | $1,410,000 | $141,000 |
| SIOUX CITY, IA-NE-SD | 7 | $1,355,000 | $193,571 |
| GRAND ISLAND, NE | 14 | $1,330,000 | $95,000 |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX | 7 | $1,325,000 | $189,286 |
| PRESCOTT VALLEY-PRESCOTT, AZ | 15 | $1,245,000 | $83,000 |
| MEDFORD, OR | 5 | $1,205,000 | $241,000 |
| ST. GEORGE, UT | 4 | $1,160,000 | $290,000 |
| TWIN FALLS, ID | 8 | $1,140,000 | $142,500 |
| BELLINGHAM, WA | 6 | $1,120,000 | $186,667 |
| SAN ANTONIO-NEW BRAUNFELS, TX | 7 | $1,085,000 | $155,000 |
| COEUR D'ALENE, ID | 5 | $1,045,000 | $209,000 |
| LA CROSSE-ONALASKA, WI-MN | 11 | $1,015,000 | $92,273 |
| WATERLOO-CEDAR FALLS, IA | 2 | $920,000 | $460,000 |
| IOWA CITY, IA | 8 | $910,000 | $113,750 |
| INDIANAPOLIS-CARMEL-ANDERSON, IN | 1 | $905,000 | $905,000 |
| MEMPHIS, TN-MS-AR | 2 | $770,000 | $385,000 |
| REDDING, CA | 4 | $710,000 | $177,500 |
| FORT SMITH, AR-OK | 1 | $705,000 | $705,000 |
| KALAMAZOO-PORTAGE, MI | 1 | $695,000 | $695,000 |
| SAVANNAH, GA | 5 | $635,000 | $127,000 |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN | 4 | $620,000 | $155,000 |
| COLLEGE STATION-BRYAN, TX | 1 | $615,000 | $615,000 |
| JACKSONVILLE, FL | 4 | $600,000 | $150,000 |
| HILTON HEAD ISLAND-BLUFFTON, SC | 5 | $555,000 | $111,000 |
| ALBANY-LEBANON, OR | 4 | $540,000 | $135,000 |
| SIOUX FALLS, SD | 4 | $540,000 | $135,000 |
| MOUNT VERNON-ANACORTES, WA | 2 | $500,000 | $250,000 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | 4 | $480,000 | $120,000 |
| MCALLEN-EDINBURG-MISSION, TX | 2 | $460,000 | $230,000 |
| ROCHESTER, MN | 10 | $450,000 | $45,000 |
| PUEBLO, CO | 5 | $445,000 | $89,000 |
| IDAHO FALLS, ID | 4 | $440,000 | $110,000 |
| WARNER ROBINS, GA | 1 | $415,000 | $415,000 |
| DULUTH, MN-WI | 4 | $340,000 | $85,000 |
| ORLANDO-KISSIMMEE-SANFORD, FL | 2 | $340,000 | $170,000 |
| POCATELLO, ID | 3 | $335,000 | $111,667 |
| LAWRENCE, KS | 3 | $325,000 | $108,333 |
| CORVALLIS, OR | 1 | $325,000 | $325,000 |
| WENATCHEE, WA | 1 | $325,000 | $325,000 |
| MIAMI-MIAMI BEACH-KENDALL, FL | 1 | $285,000 | $285,000 |
| BISMARCK, ND | 2 | $280,000 | $140,000 |
| GRANTS PASS, OR | 2 | $270,000 | $135,000 |
| CINCINNATI, OH-KY-IN | 1 | $265,000 | $265,000 |
| CLEVELAND-ELYRIA, OH | 1 | $265,000 | $265,000 |
| PITTSBURGH, PA | 1 | $265,000 | $265,000 |
| LEWISTON, ID-WA | 1 | $255,000 | $255,000 |
| ST. LOUIS, MO-IL | 1 | $165,000 | $165,000 |
| LONGVIEW, WA | 1 | $165,000 | $165,000 |
| CHARLESTON-NORTH CHARLESTON, SC | 1 | $155,000 | $155,000 |
| RAPID CITY, SD | 1 | $135,000 | $135,000 |
| LAKELAND-WINTER HAVEN, FL | 1 | $115,000 | $115,000 |
| ST. JOSEPH, MO-KS | 1 | $105,000 | $105,000 |
| PALM BAY-MELBOURNE-TITUSVILLE, FL | 1 | $95,000 | $95,000 |
| DUBUQUE, IA | 1 | $85,000 | $85,000 |
| WALLA WALLA, WA | 1 | $65,000 | $65,000 |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | 2 | $60,000 | $30,000 |
| YUMA, AZ | 1 | $25,000 | $25,000 |
Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.
Interest Rate & Spreads
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 1 | $505,000 | $505,000 |
| 2.5-3% | 110 | $108,590,000 | $987,182 |
| 3-4% | 3,535 | $2,034,995,000 | $575,670 |
| 4-5% | 5,242 | $1,694,550,000 | $323,264 |
| 5-6% | 3,980 | $792,900,000 | $199,221 |
| 6-7% | 2,158 | $210,230,000 | $97,419 |
| 7-8% | 418 | $27,790,000 | $66,483 |
| Over 8% | 8 | $240,000 | $30,000 |
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 3,948 | $214,280,000 | $54,276 |
| $100k-200k | 3,960 | $579,120,000 | $146,242 |
| $200k-400k | 3,733 | $1,019,895,000 | $273,211 |
| $400k-600k | 1,645 | $804,715,000 | $489,188 |
| $600k-1000k | 1,393 | $1,058,165,000 | $759,630 |
| $Over $1MM | 773 | $1,193,625,000 | $1,544,146 |
Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 20-40% | 3,292 | $786,720,000 | $238,979 |
| 40-60% | 2,086 | $879,690,000 | $421,711 |
| 60-80% | 3,716 | $1,913,230,000 | $514,863 |
| 80-100% | 2,158 | $838,840,000 | $388,712 |
| Over 100% | 13 | $4,855,000 | $373,462 |
| Under 20% | 4,139 | $434,065,000 | $104,872 |
LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-150k | 2,976 | $710,500,000 | $238,743 |
| $150k-250k | 3,289 | $1,224,135,000 | $372,191 |
| $50k-75k | 1,865 | $283,595,000 | $152,062 |
| $50k-or less | 1,280 | $123,290,000 | $96,320 |
| $75k-100k | 1,748 | $325,510,000 | $186,219 |
| $Over $250k | 2,589 | $1,620,165,000 | $625,788 |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan |
|---|---|---|---|
| White | 10,102 | $2,891,660,000 | $286,246 |
| Asian | 2,006 | $882,260,000 | $439,811 |
| Not provided | 1,667 | $530,825,000 | $318,431 |
| Not applicable | 1,198 | $434,120,000 | $362,371 |
| Black | 215 | $53,685,000 | $249,698 |
| American Indian | 126 | $26,240,000 | $208,254 |
| Asian Indian | 37 | $19,815,000 | $535,541 |
| Native Hawaiian | 43 | $11,245,000 | $261,512 |
| Other Asian | 10 | $5,280,000 | $528,000 |
| Chinese | 14 | $4,690,000 | $335,000 |
| Filipino | 13 | $3,815,000 | $293,462 |
| Other Pacific Islander | 4 | $1,510,000 | $377,500 |
| Japanese | 4 | $1,450,000 | $362,500 |
| Korean | 4 | $1,220,000 | $305,000 |
| Vietnamese | 6 | $1,190,000 | $198,333 |
| Native Hawiian | 2 | $610,000 | $305,000 |
| 1 | $185,000 | $185,000 |
Approval Rates
Total approvals of all applications69.91%
A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.
Pick Rate
Approvals leading to origination75.69%
A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15,452 | $4,869,800,000 | $315,157 |
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2,849 | $1,610,845,000 | $565,407 |
| $1k-2k | 1,334 | $347,820,000 | $260,735 |
| $2k-3k | 718 | $303,890,000 | $423,245 |
| $3k-4k | 607 | $328,055,000 | $540,453 |
| $5k+ | 563 | $462,285,000 | $821,110 |
Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Manufactured | 3 | $9,265,000 | $3,088,333 |
| Multifamily:Site-Built | 193 | $207,365,000 | $1,074,430 |
| Single Family (1-4 Units):Manufactured | 182 | $19,960,000 | $109,670 |
| Single Family (1-4 Units):Site-Built | 15,074 | $4,633,210,000 | $307,364 |